- The Cardano Vasil hard fork is delayed for a second team as developers target a smooth network upgrade.
- Input Output Global (IOG) announced the delay and argued that all parties, including exchanges and API developers, need to be ready for the Vasil hard fork.
- Analysts believe Cardano price lacks momentum, and traders should prepare for a pullback.
The Cardano Vasil hard fork will likely get delayed again as the development team falls behind targets for a smooth network upgrade. The organization responsible for Cardano’s research and development released a new update announcing a delay in the hard fork.
Also read: Cardano eyes $0.55 target after successful smoke test on Vasil testnet
Vasil hard fork is postponed second time
Kevin Hammond, IOG technical manager, announced that the Vasil hard fork would be postponed for a second time so that all involved parties, including exchanges and API developers.
Hammond said,
Obviously, from where we are, there could be a few more weeks before we go to the actual Vasil hard fork [...] This is incredibly important. All the users must be ready to progress through the hard fork to ensure a smooth process.
IOG is focused on resolving testnet issues before Cardano moves ahead with node version 1.35.2. The new node version fixes issues related to stake pool operators, dApp developers and internal testing.
IOG intends to flush out final issues and fix testing authority without a rush.
Why the Vasil hard fork is key to Cardano holders?
Vasil hard fork is the most significant upgrade to Cardano since the Alonzo hard fork, completed in September 2021. The upcoming hard fork is a game changer in the Ethereum-killer’s development path. It is expected to improve the Cardano network’s speed and scalability and make it preferable for developers compared to Ethereum and other competitors.
Input Output released Vasil hard fork roadmap in May 2022, and the event was scheduled for June 29. The hard fork was eventually delayed until the last week of July over several issues and bugs.
Vasil hard fork delay has pushed the event closer to Ethereum’s Merge, one of the most widely anticipated events in the crypto ecosystem. The second-largest blockchain by value, Ethereum’s Merge, is scheduled to occur in September 2022 after multiple delays.
Analysts predict decline in Cardano price
Analysts at FXStreet have evaluated the Cardano price trend and predicted a decline in the altcoin. Cardano price lacks momentum; analysts believe traders should prepare for the possibility of a pullback.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Worldcoin Price Prediction: Is WLD done with uptrend after 77% rally?
Worldcoin has paused its uptrend as it currently trades at $1.57. This move comes after the altcoin rallied a whopping 77% in just three days, between September 13 and 16. As WLD hovers aimlessly, investors need to be patient to catch the next volatile move.
Ethereum whales prepare ahead of futures Ethereum ETF approval on October 2
Ethereum (ETH) price is likely going to witness a massive spike in volatility soon due to the circumstances surrounding the approval of the token’s futures Exchange-Traded Fund (ETF). According to Twitter users, the ETF is likely going to be approved on October 2.
Ripple Price Forecast: Declining network growth and underwater XRP holders suggest more downside for XRP price
Ripple (XRP) price shows a lack of buying pressure after its win against the US Securities and Exchange Commission (SEC) on July 13. Since then, the remittance token has been on a downtrend. Considering Ripple’s current position, a further decline would not be surprising.
Chainlink Price Prediction: LINK bears set to wipe 25% gains
-637336005550289133_XtraSmall.jpg)
Chainlink price shows an exhaustion of the bullish momentum as it approaches a key reversal zone. This development could see LINK trigger a steep correction that could undo recent gains.
Bitcoin: BTC downside likely after 20-week EMA culls bulls
Bitcoin (BTC) bearish price fractal, as discussed in a previous article, is underway, but the lack of volatility is causing ambiguity and doubt. Regardless, BTC might see a bit of an upside before the long-term bearish scenario plays out.